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Wave Reviews

4.4 (1,579) Write a Review! Canada Local product

About Wave

Automate key invoicing & bookkeeping tasks and get more time for what you love with Wave’s small business software. Try for free today!

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Pros:

Since it is free, I expected customer service to be non-existent, but they do respond and resolve issues through their messaging system. You can also share info with your accountant.

Cons:

It was disappointing when UK bank syncing stopped. Would prefer more options on personal designs for Invoices and Receipts.

Wave ratings

Average score

Ease of Use
4.4
Customer Service
4.0
Features
4.2
Value for Money
4.6

Likelihood to recommend

8.4/10

Wave has an overall rating of 4.4 out 5 stars based on 1,579 user reviews on Capterra.

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Filter reviews (1,579)

Michael
Michael
Administrator in Zimbabwe
Verified LinkedIn User
Retail, Self Employed
Used the Software for: 2+ years
Reviewer Source

Wave Review

5.0 4 weeks ago New

Comments: Excellent. It makes a massive difference to our business and keeps track of our progress.

Pros:

It's the best accounting system I have ever used before. Very effective and user friendly and I would recommend it to any business.

Cons:

It's taken long to have a great app for it and also they've restricted new accounts to North America which is a drag.

Ashley
Office Manager in US
Automotive, 2–10 Employees
Used the Software for: 1+ year
Reviewer Source

Alternatives Considered:

Accounting without a Cost

4.0 2 months ago

Comments: I loved this software/app so much that I actually decided to open a personal account and use it for mine and my husbands personal finances! I had been using the good ole trusty excel for this. But this makes everything so much nicer. It imports all my husbands charges and then I can code them and see just where our money is going. Not to mention, it has help the business I work for be more successful in bringing in a bigger profit! If you are trying to decided between software's and don't know where to start, try Wave for your business accounting needs.

Pros:

The first greatest thing about Wave is that is FREE!!! If you are just starting out, or a small business where overhead and expense need to be kept to a minimum, I recommend this app. It has all basic functions you need like, quotes, invoicing, statements, entering bills, receipts, reconciling bank statements, etc. All of these services including reporting are included in the free software! It has payroll functions for an additional charge, which we have opted out of for the time being. You can even link your bank account to it and it will import all the your debits and credits for reconciling. Also, this software is super user friendly and you do not need to be a tech expert to understand it. It will set you up with preloaded items it thinks you need for your business and then you can change them or delete them. You can also add new ones super easy while doing this or after the fact. I really love that its cloud base and can be accessed anywhere. This makes it key for me when traveling for work.

Cons:

Honestly Wave is pretty awesome that it was hard to find cons with it. The only drawback for me is the reporting. I wish I was able to customize them and select certain data to analyze. The reports are basic and standard, they just don't quite cover what I am looking for in my reporting.

John
Managing General Partner in US
Human Resources, 2–10 Employees
Used the Software for: 1-5 months
Reviewer Source
Source: SoftwareAdvice

Wave accounting is the worst.

1.0 last month New

Comments: Wave accounting is the worst. We are a niche recruiting firm. We receive large payments via ACH and Credit card. My first (and last) payment with Wave is the result of them holding my money for 7 business days, and on the 6th is retroactively asking me for information. After already approving my payments and invoicing, they get money and are now holding it. They want me to send them a copy of my contract with terms and conditions- again retroactively while holding my money. Over $20K is sitting there, for services I have already rendered, and I cannot collect it. Whats worse, I cannot call a supervisor- they must call me. I am researching a class action lawsuit so if anyone has had this same experience with Wave let me know. In the meanwhile, don't use Wave, and if you receive large ACH's Quickbooks can be paid for with 1 ACH fee- the charge a MAX of 1% or $10 (whichever is lower) Those fees add up.

Pros:

To start with it is free; nice layout and ease of use

Cons:

Their payment system and complete lack of customer service. You cannot speak with a human unless they call you. They charge too much for ACH transactions and do not have the requisite service to go with their charges. One ACH fee could pay for Quickbooks (better system) for a year.

Chantel
Registered Massage Therapist in Canada
Health, Wellness & Fitness, Self Employed
Used the Software for: 2+ years
Reviewer Source

Alternatives Considered:

Bookkeeping made simple

5.0 3 weeks ago New

Comments: My accountant recommended Wave as an upgrade from using Excel to document my income/expenses and it has made my life so much easier, my accounting/bookkeeping takes half the time and my reports are ready in an instant. It has been easy to help me keep track of any expenses I may have missed throughout the year as well.

Pros:

Wave is so user friendly, it's made all my bookkeeping seamless.

Cons:

If I had to choose it would be simpler invoicing/receipt creation.

DAYNA
Accountant in US
Consumer Goods, 2–10 Employees
Used the Software for: 2+ years
Reviewer Source

Alternatives Considered:

Excellent Free Software for Small Businesses

5.0 2 weeks ago New

Comments: Extremely easy to use and a perfect first software for service based businesses that don't want to pay for Quickbooks yet.

Pros:

- Free - Cloud based - Easily customizable/brandable invoicing and reports

Cons:

It does not do costing per order or inventory management as far as I'm aware.

Robert
Ceo in Canada
Marketing & Advertising, 2–10 Employees
Used the Software for: 2+ years
Reviewer Source

Wave Apps Rocks

5.0 2 months ago

Comments: Our experience from start to finish was really good.

Pros:

Wave Apps was easy to use and easy to setup. It makes our business much easier to run.

Cons:

There was really nothing to not like. The product is amazing.

Joseph
Finance Manager in US
Civic & Social Organization, 11–50 Employees
Used the Software for: 1+ year
Reviewer Source

The Progressive Finance Managing Platform

5.0 last month New

Comments: The program creates a robust accounting solution, where ever transaction is fully screened and proper follow up done.

Pros:

The management of all general ledgers is something the software is well controlled. There is the transaction recording, where proper accounting is done and budgeting enhanced.

Cons:

The capital budgeting details are not well elaborated, and this calls for more involvement with the vendor.

Luiza
Owner in Romania
Newspapers, 2–10 Employees
Used the Software for: 1+ year
Reviewer Source

Accounting done wright

5.0 4 weeks ago New

Comments: Great software, everything worked as it should be, support is fast and really helps you.

Pros:

Perfect accounting software for a small business and someone with less to none accounting knowledge. Creating unlimited estimates and invoices even on the free plan is the greatest feature.

Cons:

No cons here, worked flawless for me and my small business.

Islam
DM in United Arab Emirates
Hospitality, 201–500 Employees
Used the Software for: 6-12 months
Reviewer Source

Very easy to use

5.0 2 months ago New

Pros:

I like how it workd how it supports our business

Cons:

Customer Support Easy Billing Invoices

Samantha
Samantha
Owner in UK
Verified LinkedIn User
Accounting Software, Self Employed
Used the Software for: 1-5 months
Reviewer Source

Great Piece of Software

4.0 3 weeks ago New

Pros:

There was a free version, easy to invoice and collect payments, good trackers for accounting

Cons:

Not as much functionality as other software

Verified Reviewer
Verified LinkedIn User
Management Consulting, Self Employed
Used the Software for: 6-12 months
Reviewer Source

Alternatives Considered:

Wonderful accounting software for starting and growing a service business

5.0 4 years ago

Comments: I haven't gone through a tax season with my business yet, but I have been an independent consultant and I anticipate having everything tracked in Wave is going to help me out a lot come April. It's so easy to use and I can focus on my core business rather than spending a lot of time on admin.

Pros:

Wave helps me do so much. I can issue invoices, track them (I.e. I can see when a client has viewed it!), and allow clients to make payments directly through the invoice. I can also customize my invoice, which is great. I could do all of this from day 1. I'm a solopreneur and launched my business this summer. I was able to issue professional invoices from day 1 and track my expenses using their receipts app. The other thing I love about Wave is that they are very interested in feedback from their customers. I've had a few interactions with them and it's always been really pleasant. It's also free which helps me out a lot. I do use the credit card payments, which has a fee like any other service would.

Cons:

Their mobile app could use some work, and I've given them this feedback. The receipts app is great to take pictures really quickly, but I generally have to use the browser to do anything else.

Proinsias
Proinsias
Owner Manager Digital Specialist in Ireland
Verified LinkedIn User
Online Media, Self Employed
Used the Software for: 2+ years
Reviewer Source

Alternatives Considered:

Wave Accounting is great for a Startup Business

5.0 3 years ago

Comments: I was very happy with the invoicing, payments, and the Design and functionality. I was able to search past transactions very easily. I did not pay for premium support, but the support that I recieve is excellent.

Pros:

It was free to use the accounting services I was able to invoice customers using Stripe as a Payment Gateway which was great value The Design and User Interface is very professional compared to others that I have seen The Payment Gateway was also very professional when sent to customers, it added to the credibility of the business

Cons:

My particular Bank would not allow me to sync my account with Wave, but that was a local issue not a general issue. I was very very happy with the invoicing. but I always felt that the ledger views were not as robust.

Jonathan
Owner in US
Marketing & Advertising, 11–50 Employees
Used the Software for: 2+ years
Reviewer Source

Alternatives Considered:

It’s free, but better than any paid accounting software.

5.0 2 years ago

Comments: We’ve been using wave since beta. We tried Quickbooks and a few other accounting platforms after a consultant suggested we review other platforms. Ultimately, we never left wave and will not in the foreseeable future.

Pros:

Wave is free, but it’s powerful. Wave is suitable for any small to medium business. Wave handles all our accounting needs.

Cons:

Wave has two major areas of improvement. 1. Their customer service is difficult, especially if you have an urgent matter. Their chargeback dispute process is not easy and confusing. Again, customer support regarding chargebacks is difficult considering you have a few days to submit a dispute package.

Andrew
Chief Executive Officer in US
Accounting Software, 11–50 Employees
Used the Software for: 2+ years
Reviewer Source

Alternatives Considered:

Wave Accounting

5.0 last year

Comments: My overall experience with Wave was excellent and I had no issues with this software. If it was not for a change in business practice, I would still be using Wave now.

Pros:

The best thing about this software is that it is free and offer just as much if not more features than some of its paid competitors. You can also access it online from any PC.

Cons:

They don't have a robust support line but considering you are not paying for the software, you can't blame them. Plus there really isn't any reason for you to need support as everything is user-friendly and there is adequate help features in the software.

Verified Reviewer
Verified LinkedIn User
Civil Engineering, 2–10 Employees
Used the Software for: 1+ year
Reviewer Source
Source: GetApp

Alternatives Considered:

Wave Accounting

5.0 2 years ago

Comments: I was able to quickly send professional estimates and invoices on go and I didn't have to keep a lot of envelopes with receipts any more, I could just scan receipts and attach them to a bank transaction. Before I even get an accountant, I would easily see the performance of the business from the cash flow graphs and profit and loss graphs.

Pros:

Setting reminders to be sent to clients for payment is the most important feature from wave in my opinion. Also being able to create recurring invoices you you don't have to do the same thing every week or every month. My other favorite is customer statements. Pulling out customer statements and sending to your clients gives you points in terms of professionalism. I also appreciate that when Wave stopped operating in South Africa they recommended Zoho and gave us a year of free use of Zoho. Even though I did not like changing, this was a very thoughtful move by wave.

Cons:

For some reason wave starting giving limited access to its South African customers and partnered with Zoho for customers to migrate. Even though the apps are similar, they're not the same and it took a little bit of time to now learn Zoho a new app.

Michael
Owner sole proprietor in US
Music, Self Employed
Used the Software for: 1+ year
Reviewer Source
Source: SoftwareAdvice

Alternatives Considered:

Wave Was/Is My Go To From QB Online

4.0 3 years ago

Comments: My overall experience has been great! I have to do some thinking/remembering at tax time to separate the double entries of income. I show an invoice paid by check WAVE shows that income on my account. I go to the bank and deposit, there is that check again. For the total amount of money saved, around $450-500, I will put up with it.

Pros:

It is FREE in the cloud, works on ALL platforms Windows 7,10, Android, iphones. Accepts all credit cards including Amex for 2.9% I am saving $420+ yearly by not having QB, I don't have to print invoices. Since WAVE is in the cloud I email my invoices and receipts.

Cons:

I wish it had more storage of customer service that has been performed in the past but I suspect that would require some expense. It only had 3 invoice templates and there wasn't much customization on those. You can't compound taxes on your invoices, let me rephrase, you can compound 1 tax but no more. Since my only taxes are State and County I found it best to compound none for fear of forgetting which one I had compounded

Chirag
Managing Director in Canada
Accounting Software, 2–10 Employees
Used the Software for: 2+ years
Reviewer Source
Source: SoftwareAdvice

Scam alert - Worst Customer Service Ever - Free is not a good price, it actually is a worst price

1.0 3 years ago

Comments: Frustrating. To the point where employees are not even getting paid as promised. Money will be gone from your account but employees will not get it and you almost feel like fraud. Please stay away from this product even if you get paid to use this.

Pros:

Easy to use if it works but it does not work most of the time.

Cons:

1) Customer service - lowest level we have ever experienced. The careless approach, lethargic service, bank connection issues and processing delays are beyond imagination in this digital age. 2) They have many exciting features at a lucrative price but the company is in a mess and nothing works. 3) No guarantee on Payroll deposit to your employee account and we have experienced that employees are not getting paid as promised. Yes - Correct. It is that bad. 4) Bank connection issues about 95% time with most of the bank. At our CPA firm, we were recommending this software to clients. Not anymore. Stay away from this product.

James
James
Research Manager in Ghana
Verified LinkedIn User
Research, Self Employed
Used the Software for: 2+ years
Reviewer Source

Best FREE Accounting and Invoicing App for Small businesses/Freelancers

5.0 3 years ago

Comments: WAVE is the best inexpensive mobile and cloud accounting software out there. I doubt if there is any accounting and invoicing software that can provide all of WAVE's features for free!

Pros:

I use Wave Mobile App for my business' finance, for managing my income and expenses. I use wave for billing and creating invoices for my clients. After using Wave for over 2 years now, I can say it works quite well. It allows me to create client contacts, which the app automatically uses to create client record books. The interface is simple and easy to get along with. The fingerprint unlock integration is one of my best features because I am able to sign in to the app without trying hard to remember passwords or pins. Above all, I think the best thing about Wave is, you get most of the relevant features needed for FREE!

Cons:

There are few hitches I encounter using wave. I am not able to write off a partly paid bill as bad debt if all attempts to reclaim the payment from my clients fail. Sometimes, people pay about 70% and fail to pay for the rest. In order to close the invoice, I will have to mark it as completely paid and doing that can overstate or affect my financial records and reports within Wave.

Jennifer
Jennifer
Self-employed in Canada
Verified LinkedIn User
E-Learning, Self Employed
Used the Software for: 2+ years
Reviewer Source

Free invoicing, billing, and accounting software with paid upgrade features

5.0 3 years ago

Comments: I like that I can do my own bookkeeping and light accounting and this keeps me relatively sane come tax time. I highly recommend Wave to anyone who's willing to learn at least a bit about accounting! With Wave Payments and Wave Payroll, the software works well for self-employed folks just getting started and will grow with them as they add to their team.

Pros:

The cost is compelling -- free! -- but beyond that I find the software is advanced enough to do what I need without being utterly overwhelming like other options. I'm not accountant and there's only so much geeking out I want to do. I can send invoices, get paid, track all my expenses and payments, handle business AND personal finances from the same account, and it all works really well with my bank and integrates decently with Stripe via Zapier.

Cons:

I'd love Wave Payments to allow for payments in more than one currency. I can invoice in USD and CAD (my main), but I can only accept online payments via Wave in CAD. No biggie.

Jack
Owner in Canada
Information Technology & Services, Self Employed
Used the Software for: 2+ years
Reviewer Source

Wave has amazing functionality for a free product, but it's not as good as it should be

4.0 5 years ago

Comments: I have been using Accounting by Wave for nearly three years. It was a replacement for my Simply Accounting program. I am forever wondering how Wave can afford to make such a polished product available at no cost. Initially, there were ads, but now that they have a revenue stream from additional services, the ads have been removed. I have opted not to use their in-built payment processing feature, but I imagine it would be similar to Paypal in terms of the fees. Day-to-day operation of the program is smooth. They use a Zapier interface to my bank to update balances and download transactions. This interface is quite slow, although the speed has improved somewhat over the years. As bank transactions are imported, they are categorized into various income/expense categories. I find the categorization to be fairly unhelpful. Even after the user changes the categorization of transactions, Wave does not remember these settings. The next time data is downloaded, it will use the same, incorrect categories as the previous time. Wave is currently rolling out a new version of their software, which promises improvements to the AI (artificial intelligence) capabilities. I hope this means they will remember user-defined categorizations, but until my account is updated, I cannot speculate. There is one VERY ANNOYING bug in the program that I have described in the CONS section, since I've run out of space here.

Pros:

The software is FREE for everything other than PAYROLL and PAYMENT PROCESSING. If you don't use those components, there is absolutely no charge. For the most part, it is user-friendly and straightforward, and the quality of its printed invoices, customer statements and reports is top-notch. I really appreciate the ability to create recurring invoices (subscription billing) and view monthly income/expense bar charts for a 1- or 2-year period.

Cons:

This is bookkeeping software that stresses simple data entry. However, it doesn't have features such as audit trails for transaction entries. With this program, it is possible to generate transactions, generate reports, and then reverse the transactions without any way of knowing that changes were made. Wave attempts to categorize your income and expenditures, but doesn't currently have the ability to remember your categorizations. But the thing I like least about this software is a BUG that causes the program to download bank transactions and incorrectly categorize them as duplicates of previously downloaded transactions if the transaction amounts match. This bug makes it difficult to find transactions when you are attempting to reconcile your transactions.

Luke
Owner in US
Retail, 2–10 Employees
Used the Software for: 2+ years
Reviewer Source

Alternatives Considered:

A data-import nightmare - Stay away unless you love lost transactions

1.0 4 years ago

Comments: Support has been poor quality. As a paying customer of both their payroll service (which is solid) and their accounting coaching, I'm tremendously disappointed with the platform.

Pros:

The software at it's core is very easy to use. The reliability is however a complete failure.

Cons:

Throughout the past 3 years, Wave has been a game of 'make sure my bank works.' First, I closed incompatible credit card accounts in order to open accounts that were listed as compatible. A year later, Wave lost the connection with all of capital one due to an issue with switching data providers (from Plaid). Next, Chase bank cards also disappeared. When finally reconnecting, weeks worth of transactions were intermittently missing. For a software company who's core goal is to reduce manual data entry, this platform is a nightmare. Stay away.

Spencer
Studio Photographer in US
Photography, Self Employed
Used the Software for: 1+ year
Reviewer Source

Very powerful free features with the option to purchase high-quality premium services!

5.0 3 years ago

Comments: I am very impressed with Wave Accounting. Their free products aren't skimpy or limiting, but are actually very full and would likely not be free from another service provider! Wave's premium offerings are extensive as well. Overall, I've found that Wave Accounting is perfect for a wide target audience including small businesses, sole proprietors, independent contractors and freelancers, or people looking to take their invoicing, accounting, payment collecting, etc. to anything beyond their basic capacity and limitations. Highly recommend to a broad audience needing such services.

Pros:

Wave Apps software features not only very beautiful interfaces for their products' dashboard, but the platform is at once very feature-heavy and thoughtfully well designed. The aesthetically-pleasing graphics for content such as cash flow, profit and loss, and expense breakdowns on the primary dashboard are sharp and clean in addition to being so helpfully data-driven, and all that is just on the landing page. As you navigate through categories of sales, purchases, accounting, banking, you experience how well-constructions the pages are for options within each section including sales, purchases, accounting, etc. I love just how many of the feature-heavy options are completely *FREE.* Wave Apps offers select premium services, such as Wave Advisors and bookkeeping, even business insurance with "NEXT," while offering things such as accounting, invoicing , etc. free of charge. It's an excellent product for anyone looking for a beautiful interface, but also wanting lots of features without needing to immediately spend money for quality products.

Cons:

So many elements within Wave are intuitively navigable and to use with simple data entry. One area that was a little more challenging for me to set up with the chart of accounts section in the accounting area of the interface. It's so nice that it's deeply customizable, but the challenge was that it took me a little extra time to understand and knowledgeably input the data of my assets, liabilities/credits, income, expenses, equity. This is something that would be challenging for anyone not familiar with basic accounting on any software, so I probably would've benefitted from a few "help" pop-ups/set-up assistance here than perhaps some other areas. Where my limitations with setup start is however where Wave's premium products with bookkeeping and accounting are so valuable to the user. There are many great pop-up notices throughout the platform that inform you about new features of ways to most effectively use Wave Apps features, which is great, and of course, they're complete with beautiful graphics.

Nweke
Nweke
Founder, Lead Designer in UK
Verified LinkedIn User
Design, 2–10 Employees
Used the Software for: 2+ years
Reviewer Source

Alternatives Considered:

A good start for small businesses to easily manage their billing and invoicing

4.0 last year

Comments: It made my startup process easy and saved my business a lot of expenses. I also learnt a lot as a novice with basic financial knowledge.

Pros:

First of all, it is completely FREE part from other optional extra services that have recently been added at a cost. Very easy-to-use in creating invoices and billing customers. I was able to integrate with my startup business processes and it improved our professionalism. I loved the app because I could easily manage my business finances from my mobile phone, follow up on due payments, track payments, monitor cashflow, and also customize all correspondence with my brand colors and logo.

Cons:

I was sad when most features were limited to US residents and I also couldn't access the mobile app in the app store for my region. Users outside the USA might have some limitations especially with connecting banks or credit cards and no access to the mobile app

Dane
Owner/Operator in US
Accounting Software, Self Employed
Used the Software for: 2+ years
Reviewer Source
Source: SoftwareAdvice

Wave is a Great Accounting Suite - and it's FREE!

5.0 5 years ago

Pros:

Wave is a great piece of accounting software that rivals Quickbooks and Xero. The biggest winner, which it obvious to anyone who has researched Wave as an accounting platform for their small business: it’s FREE! Both Quickbooks and Xero have fairly low-cost pricing models for small businesses that range all the way to fairly high-cost for larger businesses. Wave, on the other hand, is specifically tailored to the small business, and offers only features popular with those businesses. But, because of this, their base accounting software is completely free. Their only products you would be billed for would be payroll or credit card processing, both of which are priced competitively to Quickbooks/Intuit’s and Xero’s offerings as well. Wave also offers a lot of the same features, including automatic bank and credit card feeds, customized charts of accounts, multiple businesses on one account, smart expense categorization (software learns over time), and more.

Cons:

Wave does have its limitations and is more basic than Quickbooks or Xero, especially to us accountants who can see the glaring differences. However, even as an accountant and bookkeeper, I recommend Wave to a lot of my smaller clients whose biggest consideration is cost, simply because you can’t beat free. Plus, a lot of the additional features that offerings like Quickbooks or Xero feature, smaller businesses will not always utilize anyway, so Wave fits them perfectly. All-in-all, there are no large drawbacks.

Mark
Mark
Proposal Manager in Canada
Verified LinkedIn User
Information Technology & Services, 51–200 Employees
Used the Software for: 2+ years
Reviewer Source
Source: GetApp

Small business accounting, invoicing, credit card processing for minimal cost

5.0 6 years ago

Pros:

As many other reviews have stated, there is no subscription cost for Wave, which is great. There have been a number of features added to Wave since I started to use it, such as recurring invoicing/credit card processing and direct bank payments. Wave's support is helpful, money is transferred quickly, and my invoices look great. I am providing a more detailed review than I did the first time, but I have "sung the praises" of Wave a few times. (Including on Twitter, and they promptly thanked me for it - they listen, which is great). Wave is Canadian, and they are based in Toronto, but that is only one reason I chose to work with their service. I have a couple of complaints about their service, but nothing serious enough which would cause me to switch services. The flexibility of PDF/web-based invoices is great, retains client details, and it just gets the job done for me as a freelancer.

Cons:

On a few occasions, my invoices got picked up by my clients' spam filters, so I tend to use the PDF invoice option. Not a big issue, I've followed up on it. Also if I take payment through PayPal, I can get paid in US funds, but I have to invoice in Canadian funds only through Wave because my bank is in Canada (even if I have a US funds account). Oh well, again, no big deal. Apparently, there is auto-reconcile of transactions through AI functionality in Wave's future, which will address another pet peeve I have, but again no big deal.